Title 58, INSURANCE

Any long - term care policy offered for sale in this state shall offer as an endorsement an annual cost - of - living adjustment in daily benefits paid. Nothing in this section requires an insurer that offers a long - term care policy which pays benefits on an expense - incurred …

The director may promulgate rules pursuant to chapter 1-26 to establish specific standards and requirements for a cost - of - living adjustment to long - term care policies. The standards or requirements may cover: (1) Types and duration of adjustments; (2) Underwriting; and (3) …

No group long - term care insurance coverage may be offered to a resident of this state under a group policy issued in another state to a group described in subdivisions 58-17B-2(4)(a) and (4)(d) unless this state or another state having statutory and regulatory long - term care …

Rules adopted pursuant to this chapter shall be in accordance with the provisions of chapter 1-26 . Source: SL 1989, ch 440 , § 17.

If an insured is receiving benefits for long-term care services in a nursing home or assisted living facility under a long-term care policy or certificate subject to this chapter, and temporarily leaves the nursing home or assisted living facility for a period not to exceed fourt…

Terms used in this chapter mean: (1) "Applicant," (a) In the case of an individual long-term care insurance policy, the person who seeks to contract for benefits; and (b) In the case of a group long-term care insurance policy, the proposed certificate holder; (2) "Certificate," a…

An individual policy delivered or issued for delivery may not contain provisions less favorable to the insured than "guaranteed renewable" for life. Source: SL 1989, ch 440 , § 3.

The director may adopt rules, pursuant to chapter 1-26 , that include standards for full and fair disclosure setting forth the manner, content, and required disclosures for the sale of long - term care insurance policies, terms of renewability, initial and subsequent conditions o…

No long - term care insurance policy may: (1) Be cancelled, nonrenewed, or otherwise terminated on the grounds of the age or the deterioration of the mental or physical health of the insured individual or certificate holder; or (2) Contain a provision establishing a new waiting p…

If a long - term care policy replaces another long - term care policy issued by the company or by an affiliated company, the insurer shall waive any time period applicable to preexisting conditions, waiting periods, elimination periods, and probationary periods in the new long - …

No long - term care insurance policy or certificate other than a policy or certificate thereunder issued to a group as defined in subdivision 58-17B-2(4)(a): (1) Shall use a definition of "preexisting condition" which is more restrictive than the following: Preexisting condition …

No long - term care insurance policy may be delivered or issued for delivery in this state if the policy: (1) Conditions eligibility for any benefits on a prior hospitalization requirement; (2) Conditions eligibility for benefits provided in an institutional care setting on the r…

The director may adopt rules, pursuant to chapter 1-26 , establishing loss ratio standards for long - term care insurance policies provided that a specific reference to long - term insurance policies is contained in the regulation. Source: SL 1989, ch 440 , § 9.

Long - term care insurance policyholders shall have the right to return the policy within thirty days of its delivery and to have the premium refunded if, after examination of the policy, the policyholder is not satisfied for any reason. Long - term care insurance policies shall …